How Much to Budget for Home Maintenance

It’s important for homeowners to anticipate and plan for home maintenance expenses. Unlike being a renter, when you’re a homeowner, you’re responsible for keeping up with regular maintenance and repairs, and making sure systems are working efficiently.

Being prepared for those expenses—some of which may come up unexpectedly—can help ensure that small problems don’t turn into bigger ones. How much should you expect to pay for home maintenance each year? According to Angi’s annual “State of Home Spending” report, in 2023, the average home maintenance costs were $2,458; emergency costs were another $1,667.
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Of course, the age, size, and condition of the home will also play a big role in your home maintenance costs, which is why it’s a smart exercise to look at your individual situation to come up with a budget goal that makes sense for you.

KEY TAKEAWAYS
Homeowners should budget for routine maintenance, repairs, and replacements to ensure the long-term upkeep of their homes.
Factors like the size, location, age, and specific maintenance requirements of a home should be considered when setting a budget.
Different budgeting approaches, such as percentage-based guidelines or fixed dollar amounts, can be used to determine the appropriate budget for home maintenance.
Creating a personalized budget involves estimating costs, setting realistic goals, and considering your individual circumstances.
Understanding Home Maintenance Costs
Home maintenance costs encompass all of the money that you’ll put into your house to keep it functional. This can include routine maintenance like furnace tuneups, gutter cleaning, and landscaping services; repairs on appliances as they age or become damaged; and replacements of major home elements like your roof, windows, HVAC systems, and more.

If you have a fairly new home with upgraded materials and appliances, it’s less likely that you’ll face a major expense right away. Older homes, however, may cost more to maintain. Another factor that can impact home maintenance costs is the climax